Fort Lauderdale Division Of Marital Assets Attorney
When people go through divorce, they often worry about how it will impact them financially. If people are not careful, Florida divorce can end up being costly, and they can end up losing out in the property division. People should be aware of the steps that they can take to protect themselves financially when going through divorce. Contact our experienced Fort Lauderdale division of martial assets or property division attorneys today.
Educate yourself about finances
One of the most important things people need to do when preparing to divorce is to educate themselves about the family finances. People should have a clear understanding of all of the family’s assets such as real estate, bank accounts, investment accounts, stocks and bonds, mutual funds, vehicles and similar property, as well as any debts the family owes. People need to know the family’s financial situation in order to be in a position to negotiate a fair property division.
Separate yourself from your spouse
People going through divorce should begin building a solo financial presence, such as opening bank accounts and taking out credit cards in only their names. They should also close accounts and credit held with spouses as soon as they are able so that spouses cannot accumulate more debt in both spouses’ names or dissipate marital assets. Contact our Fort Lauderdale marital assets attorney for more information.
Look for hidden assets
In some cases, spouses try to hide assets so that they will not lose them in the property division. Spouses who are unaware of the hidden assets are at a disadvantage in the property settlement negotiations and end up getting less than their fair share of the marital estate. Some of the more common ways that spouses hide assets include:
- Stowing cash in safe deposit boxes
- Underreporting income to the I.R.S. on tax returns
- Buying collectibles such as art or antiques and understating their value
- Putting off closing business deals or delaying taking bonuses
- Creating phony debts with friends in order for others to hold assets until after the divorce
Obtain a Fort Lauderdale Property Division Attorney
One of the best ways that people can ensure that their finances will be protected during divorce is to hire an attorney. An experienced Fort Lauderdale marital assets attorney can help look out for a person’s interests during the divorce process and help ensure that the property division and alimony awards are fair. A skilled attorney can also help a person identify his or her priorities during the divorce process, such as a specific child custody arrangement or ownership of specific property, and work to obtain those goals. If you have questions about divorce, seek the assistance of a seasoned divorce attorney who can advise you about your specific concerns.